Financial Assistance

Financial assistance is offered for active-duty service members and family members inclusive of individual consultations and financial programs and workshops. Examples of programming include consumer awareness (identification theft and predatory lending), a homebuying workshop, developing your spend plan, saving and investing, car buying, reading your credit report, the Thrift Savings Plan, and the Blended Retirement System. The Newport Fleet and Family Support Center’s personal financial manager can work with you to prepare a personalized budget and spending plan. Information and assistance are also available in areas such as military pay and allowances, consumer tips, savings, insurance, and credit card management.

Newport is a high-cost area. Many people arriving into this area are not prepared for the cost of living. The cost of apartments and homes can be up to twice the cost in other areas of the country. A security deposit for a home or apartment is usually equal to one month's rent.

According to RentData.org, for fiscal year 2022, the Newport-Middletown-Portsmouth Rhode Island Department of Housing and Urban Development Metro Fair Market Rents (Newport County) study found rent for a studio or efficiency is $1,142 per month and $2,918 per month to rent a house or an apartment with four bedrooms. The average fair market rent for a two-bedroom home in Rhode Island is $1,272 per month.

Auto insurance requirements

Insurance is mandatory in Rhode Island. You must carry liability at the minimum and your insurance company must be licensed to do business in the state of Rhode Island. Check with your current insurance company to make sure they are licensed. If not, you will have to switch companies.